A better way to cut costs

A better way to cut costs - A Better Way to Cut Costs...

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A Better Way to Cut Costs Prepared by Group 4 Oyunaa
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Contents
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According to McKinsey Survey 79% of all companies have cut costs in response to the global economic crisis Only 53%of executives think that doing so has helped their companies weather it Cost reductions often go wrong, we believe, and our experience suggests that they can be done in a better way Introduction
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Why Cut Costs The financial crisis Focus on company’s viability- to cut about equally everywhere- without considering their strategic needs (fair, straightforward) Second problem, with longer-term consequences, is that quick head count reductions often come at a price: missing the opportunities that crises can create to improve business systems or to strengthen parts of an organization selectively
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How to cut costs Companies should start any cost-cutting initiative by thinking through To restructure the business to take advantage of current and projected marketplace trends
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This note was uploaded on 11/22/2011 for the course BUS 305 taught by Professor Gerogepeterson during the Fall '10 term at Solano Community College.

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A better way to cut costs - A Better Way to Cut Costs...

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